The Crazy Rise and Fall of Altcoins

21 thg 3, 2020

Ah, the joyful memories of the good ol' pump and dump days. Though the market is very different this time, crypto has matured a little bit, and the liquidity is way higher to make organized pump and dumps more difficult, there are still similar signs that you should remember.

First of all: DO NOT PARTICIPATE IN ANY PUMP AND DUMP SCHEME. YOU CANNOT WIN, YOU CAN ONLY LOSE.

Got that? Great.

This is no market to trade. Do not FOMO. Don't buy the coin. These are not the kind of trades that make you rich, this is simply the same as going to the casino. Me, and the future you, a respectable trader, do not engage in these situations. We simply hold off, giggle a bit when looking at the chart, and divert our attention elsewhere. We focus on the things that happen every day, make small, consistent, profits of around 2-3% per trade, and call it a day. That's what should make you happy, that's what will get you there in the long run.

Having said all of that... We can see SONM and STEEM getting crazy unsustainable sudden growth, and after reaching their peak their cool down included going all the way back to where they started. I expect the other coins to show similar behaviour and move downwards as well more.

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

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